I know a lot of people who feel the same way. I've mentioned before that he needs to either let someone else direct his next one, or direct someone else's material pretty soon here, just to change direction a bit.
The big knocks on him are a label for a gimmick in his screenplays, and the rap for being a little slow (or sleep-inducing if you don't like him).
Personally, I like that he takes a chance on a premise and runs it out to a logical conclusion. Example: In The Village, he fully explores the concept of a town of "innocents", but he hits all of the problems that would be inherent there; a basis in fear and secrets, how the next generation would be inquisitive, the ultimate introduction of crime, etc. He runs it out in an intruguing way, without being preachy
He's got other strengths: great visual shots; he takes a great deal of care with shot composition. He also has a knack for good dialogue; both the cadence and preciseness of The Village dialogue is great.
In sum, I think he's definitely a love or hate director; you're either into what he's trying to accomplish, or he's a second-rate hack. Not too much room in the middle.

I agree with most of these, and am especially pleased to see The Shining. I gotta say though, I don't like The Graduate. I know I'm in the minority on that one, but I think it's creepy rather than funny.